Credit, Collections & Insolvency News
The cost of Christmas dinner items has risen three times faster than wages this year, according to new analysis published by the TUC . The analysis shows the cost of traditional Christmas dinner items such as turkey, pigs in blankets, carrots and roast potatoes has risen by on average 18 per cent over the past…
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Three peopele have been handed bankruptcy restrictions after they all provided false details to secure £165,000 of loans. Nadia Butt, from Birmingham, and Dorota Suchocka, from Barnes, South-West London are subject to 11-year and 10-year Bankruptcy Restriction Undertakings, while Heidi Carruthers is subject to a court-imposed 8-year Bankruptcy Restriction Order. All three received their additional…
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The number of middle-aged households privately renting has nearly doubled in the space of a decade, with many set to remain in rented homes for the long-term, Paragon Bank analysis of Government data shows. The number of households in England where the lead reference person is aged between 45 and 64 has increased from 691,000…
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Nearly four in ten people feel their finances are in a state of chaos, as bills, taxes, food prices and transport costs put a strain on their income. A poll of 2,000 UK adults found 27 per cent are currently in some kind of unsecured debt, estimating it will take them over three years to…
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UK business outsourcing specialist Sigma Connected has announced it is creating hundreds of new jobs as part of its ongoing growth plans. Sigma, which offers customer contact centre services across the energy, water, insurance and financial services sectors, has announced it is looking to create 500 new vacancies in the first quarter of the year.…
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The Financial Ombudsman has announced the appointment of Jenny Simmonds to the role of Chief Finance and Risk Officer. Simmonds, will take up her role in January and will lead the financial and risk infrastructure and be accountable for the property and facilities management strategies, the procurement function and will also act as Company Secretary.…
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Research by the Money and Mental Health Policy Institute found that one in eight people (13%) who are behind on at least one payment say they have attempted to take their own life as a result of the cost of living crisis, as a result, the Government is being urged to adopt US-style rules to…
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The FinandilcConduct Authority (FCA) has fined Pembrokeshire Mortgage Centre Limited (PMC) (trading as County Financial Consultants) (in liquidation) £2,354,331 for unsuitable advice to consumers to transfer out of the British Steel Pension Scheme (BSPS) and other defined benefit (DB) pension schemes. The FCA’s view is that most people should keep the guaranteed income provided by…
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Credit Connect’s hosted its second Credit & Collections Technology Think Tank in mid-November in Manchester which saw credit and collections strategies and the impact of the pandemic discussed by sixteen professionals from a variety of industry sectors at the Midland Hotel in Manchester. The themes of cost of living impacting customer engagement, credit and collections…
Read moreDebt charity StepChange has announced that it has appointed Charlotte Chambers as Chief Technology & Information Officer. Chambers is currently Senior Director – Ecommerce Technology at supermarket chain Asda and will join the debt charity in late March 2023. Chambers will head up the charity’s vital ongoing technology investment and transformation programme. Chambers is currently…
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Half a billion pounds has been spent on subscriptions that auto-renewed without people realising in the last year, according to new research from Citizens Advice. The charity, which is calling for a ban on subscription auto-renewals, warns that many contracts rollover automatically, without a customer needing to give consent. This can lead to people being…
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Students will be hit harder by the cost-of-living crisis than previously thought with the poorest students being more than £1,000 worse off than in 2020–21 according to new research by the Institute of Fiscal Studies (IFS). For university students domiciled in England, government support for living costs takes the form of so-called maintenance loans. Each…
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Having enough money is more important to the majority of the UK’s over-50s than their health or spending time with their families according to a new survey by LiveMore. The findings showed that more than half (56 per cent) of more than 2,000 50-90 year-old Britons chose financial stability and maintaining their standard of living…
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